418Protection of purchaser of leasehold against forfeiture

418 Protection of purchaser of leasehold against forfeiture (1) This section applies in relation to a lease containing a provision (the insurance provision) requiring the lessee to insure any of the leased property against loss or damage. Breach of insurance provisions Part 4.3 (2) An honest purchaser of the leasehold interest under the lease is not liable to forfeiture, for damages or in any other way for a breach of the insurance provision that happened before completion of the purchase if— (a) the purchaser was given the written receipt of the person entitled to receive the rent for the last payment of rent owing before completion of the purchase; and (b) there was, at the time of completion of the purchase, insurance that complied with the insurance provision. (3) This section does not affect any remedy the lessor has against a lessee for breach of the insurance provision. Part 4.4 Restriction of effect of licence or waiver by lessor Part 4.4 Restriction of effect of licence or waiver by lessor 419 Application—pt 4.4 (1) This part applies to— (a) a lease for a fixed term, whether or not the lease may be terminated before the end of the fixed term; and (b) a lease for the life of the lessee. (2) This part does not— (a) apply to a residential tenancy agreement under the Residential (3) Subsection (2) (b) has effect despite the Legislation Act, section 121